Notes

Farnoush Farsiar claims that Brexit has helped the UK's financial market, despite the gloomy forecasts

Farnoush Farsiar was previously an executive director at Emirates NBD and is passionately involved with Plato Capital.

She has unique insights due to her wealth and financial management experience.

Farnoush has written two pieces for BrexitCentral in the year 2019 and it appears many of her predictions have been correct.

Revisiting Farnoush Farsiar’s prediction on Brexit
Farnoush Farsiar believes that a departure from the European Union would liberate the British economy, as well as the finance market, from the burdensome rules.

It would allow London city to tap its full potential.

Regulatory intrusion made it difficult for the financial sector to function under MiFID II (Financial Instruments Directive).

The ability to stay ahead of the competition is only possible when the regulations are constantly updated.

Farsiar explained that London is the home of the largest European financial institutions and this has an influence on the economics.

If given the chance, the British financial services industry could become the most efficient version possible.

British financial markets are likely to be affected by Britain's departure from the European Union.
They will become independent once more, and they will no longer be in a position to blame Brussels.

Therefore, lowering corporation tax rates and repealing EU legislation must be high on the British agenda. This will increase foreign investment and stabilize the British market.

What was the UK Market forecast before Brexit
According to an Deloitte report that the UK was the most popular destination for Foreign Direct Investment between 2015 and 2018, than any other European country.

The report also revealed that London was more sought-after over New York for inward investments.

It is among the few truly global and international cities, and it is restricted by rules of the European Union which don't match.

One of these rules can be applied in stock trading.

High-frequency trading, in addition to other financial services, are affected by the decrease in efficiency.

The industry will fall short of its excellence and high frequency trading if it does not move at a rapid pace.

In contrast, Brexit could allow Britain to offer investors lower options.

The anti-commerce measures made it difficult for London to sustain its position as a competitor. The business community has repeatedly warned about the huge costs for small-to medium-sized enterprises.

The CEO of the Financial Conduct Authority (FCA), Andrew Bailey, envisioned "the future of financial conduct regulations".

Bailey explained how the UK could be compared to other international authorities.

His concept of "the future regulation of financial conduct" was that he would come up with an "outcome-focusedapproach" and "lower-burden" method of regulation.

Brexit offers the UK the chance to amplify its global financial influence, as well as to remove unnecessary limitations of the EU.

These restrictions are hindering the lighter regulations the UK used to have before and are hindering companies and startups from expanding and being competitive in the global marketplace.

Brexit will ensure that tech hubs are firmly ensconced within the flourishing of their main cities.

Bailey said that "if we were to do it in our own way... the UK regulatory systems would develop somewhat differently."

There was significant concern about the UK's financial market
Competitive advantage is an economic term that refers to being capable of outperforming your competition in a particular business.

Because of the regulations' weight Due to the regulation's weight, the UK worried about the demise of the capital’s financial infrastructure.

So, investors from abroad will not be attracted to them and businesses will flee towards Paris or Frankfurt.

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This exponentially">Farnoush Farsiar The biggest fear for the UK was that the European Union would stop trading from the EU market.

Another worry was that import and export will get more expensive.

Britain wants to be the financial center of the world.

Farnoush Farsiar has more positive outcomes
Farnoush Farsiar predicted the Brexit outcome , and the prediction was not too far-fetched.
If you look at the British economy discourse there is a light at the end of the tunnel.

The number of Brexit-related job relocations to Europe has dropped from 7,600 in December 2020 to a few hundred.

These numbers are comparable to the April 2016 estimates of PwC. They projected that 100,000 jobs in the financial sector could be eliminated in the event that Britain decides to Leave.

However, even with the impact of covid Britain's stock market is up.

Without the "EU limitations" the UK competes with the world's other countries and is open to more foreign companies.

All kinds of businesses are attracted to the British Stock Market, which enjoys a reputation for being a world market leader.

They've noticed only an increase in the financial services industry because of the European market.

The primary reason is that the volume of fish and seafood trade has declined, which poses problems for British Islands.
It is important to note that despite the fact that we trade less with Europe the cost per capita did rise.

Farnoush Farsiar is correct. Brexit is a great thing for the financial industry. It also helped London to realize its full potential.



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